Northwest Biotherapeutics, Inc (OTCMKTS: NWBO) has been exploding up the charts in recent days since a dip below the $0.20 mark as pot stocks heat up across the board.
In December NWBO the package transaction involving the Company’s UK property, which the Company announced earlier this week, closed today in the UK. The closing included the transaction elements previously announced:
- The funding of approximately $47.3 million in gross proceeds,
- The lease-back of the 87,000 square foot manufacturing facility and adjacent areas for up to 40 years (in two 20-year terms), on favorable terms, and
- The retention of the Company’s ownership of 17 acres of the property, which the Company believes will have substantial additional value in the future.
Northwest Biotherapeutics, Inc (OTCMKTS: NWBO) is a clinical stage biotechnology company focused on the development of personalized immunotherapy for a broad range of solid tumor cancers. The company has over 150 issued patents and more than 60 pending patent applications worldwide, grouped into 12 patent families. The Company is led by Linda Powers, a successful entrepreneur who worked for many years in corporate finance and restructurings, mergers and acquisitions, joint ventures and intellectual property licensing. Ms. Powers has served as the Chairman of NW Bio since 2007, and as CEO since 2011.
Northwest has developed a platform technology, DCVax, which uses activated dendritic cells to mobilize a patient’s own immune system to attack their cancer. The company’s lead product, DCVax®-L, is designed to treat solid tumor cancers in which the tumor can be surgically removed. This product in an ongoing Phase III trial for newly diagnosed Glioblastome multiforme (GBM). 331 patients have been enrolled in the trial, and enrollment is closed. Patients in the trial are continuing to be treated, and “events” of tumor recurrence and patient deaths are accumulating and being tracked. The trial includes a crossover option, under which patients who were originally assigned to the placebo arm of the trial have an opportunity, when their tumor recurs, to cross over and start receiving DCVax-L. Patients who were originally assigned to the treatment arm may also continue receiving the DCVax-L treatment after their tumor recurs. The patients, the physicians and the Company remain blinded as to which arm of the trial patients were in prior to crossover.
In addition to its patent portfolio, Northwest has obtained Orphan Drug designation for their lead product, DCVax-L for glioma brain cancers. Such designation brings with it a variety of benefits, including potential market exclusivity for seven years in the U.S. and ten years in Europe if our product is the first of its type to reach the market.
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The Company is also working on preparations for Phase II trials of DCVax-L for other indications. Northwest’s second product, DCVax®-Direct, is designed to treat inoperable solid tumors. A 40-patient Phase I trial has been completed, and included treatment of a diverse range of cancers. The Company is working on preparations for Phase II trials of DCVax-Direct.
On the package transaction CEO Linda Powers commented:
“We are pleased to finish out the year strongly, with the recent updated interim data from our Phase 3 trial of DCVax-L for Glioblastoma, and with this UK transaction providing a sizeable war chest of non-dilutive funding. We believe these accomplishments position us to move forward strongly in the new year on the months of work associated with completion of the Phase 3 trial. We are also looking forward to moving forward with Phase 2 trials of DCVax®-Direct.”
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Currently trading at a $128 million market valuation NWBO is fully funded moving forward and has fast growing sales reporting $4523k in revenues for the 3 months ended September 30, 2018. Northwest is a really exciting company; their lead product, DCVax®-L, is designed to treat solid tumor cancers in which the tumor can be surgically removed. This product in an ongoing Phase III trial for newly diagnosed Glioblastome multiforme (GBM). To Find out the inside Scoop on NWBO Subscribe to Microcapdaily.com Right Now by entering your Email in the box below.
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Disclosure: we hold no position in NWBO either long or short and we have not been compensated for this article.